ESMA published an updated version of the transitional transparency calculations (TTC) under the Markets in Financial Instruments Directive and Regulation (MiFID II and MiFIR). The update relates to the transitional transparency calculations for equity derivatives, equity and equity-like instruments, and tick size band assessment. ESMA also updated the frequently asked questions (FAQ) on TTC under MiFID II. Trading venues are expected to apply the new results from August 13, 2018.
MiFID II/MiFIR introduces transparency requirements for equities, bonds, structured finance products, emission allowances, and derivatives, thus empowering the competent authorities to waive the obligation for market operators and investment firms operating a trading venue, to make public pretrade information for non-equity instruments. Furthermore, transactions in non-equity instruments may also benefit from deferred publication. In addition, for equity instruments, the regulation introduces a tick size regime. European Economic Area competent authorities, with the exception of Poland, have delegated to ESMA the computation of transparency calculations, including the transitional transparency calculations (TTC). To execute them, ESMA has compiled the information from trading venues of the member states.
- Press Release
- Updated Transparency Calculations
- Calculations for Equity Derivatives (XLSX)
- Calculations for Equity Instruments (XLSX)
- Tick Size Band Assessments (XLSX)
- FAQ (PDF)
Keywords: Europe, EU, Securities, TTC, Transparency Calculations, MiFID/MiFIR, FAQ, ESMA
EBA published an erratum for the technical package on phase 2 of the reporting framework 3.0.
MAS amended Notice 643A that addresses requirements for banks to prepare statements of exposures and credit facilities to related concerns or parties.
ECB has published, in the Official Journal of the European Union, the Guideline 2021/565 on the euro short-term rate (€STR) and this guideline amends the previous ECB Guideline 2019/1265.
EBA launched a consultation on the draft regulatory technical standards on the list of countries with an advanced economy for calculating the equity risk under the alternative standardized approach (FRTB-SA).
PRA is proposing, via CP7/21, the approach to implementing new requirements related to the specification of the nature, severity, and duration of an economic downturn in the internal ratings-based (IRB) approach to credit risk.
The UK government launched the Recovery Loan Scheme (RLS) as part of its continued COVID-19 support for UK businesses, as announced by HM Treasury on March 03, 2021.
FSB published a letter, from its Chair Randal K. Quarles, to the G20 Finance Ministers and Central Bank Governors, ahead of their virtual meeting on April 07, 2021.
OSFI issued a letter to the deposit-taking institutions issuing covered bonds and announced the unwinding of the temporary increase to the covered bond limit for deposit-taking institutions, effective immediately.
To support recovery from the COVID-19 crisis, EU has published two regulations to amend the securitization framework, as set out in the Securitization Regulation (2017/2402) and the Capital Requirements Regulation or CRR (575/2013).
HM Treasury announced that G7 Finance Ministers and Central Bank Governors met ahead of COP 26, the 2021 UN Climate Change Conference, and agreed on green agenda.